Economy of the European Union

Greece should wind down energy support measures by end of 2023 suggests European Commission

Greece, along with Italy, continues to experience excessive imbalances but its vulnerabilities appear to be receding due to policy progress, according to fiscal policy recommendations given by the European Commission in the context of the European Semester.

In more detail, the European Commission recommends that Greece:

EU to remind Athens of tasks

With its two reports on Greece on Wednesday - the second assessment after the end of enhanced surveillance and its recommendations in the context of the European Semester - the European Commission is bringing Athens back to European reality, which entails imposing tight fiscal policy and the acceleration of reforms, following the intense focus on the election.

Bulgarian National Bank: The Technical Work on the Adoption of the Euro Continues

The Bulgarian National Bank (BNB) has no formal basis and has not suspended the technical work on the adoption of the euro. It is being carried out on schedule and within the bank's budget for 2023, the press center of the Bulgarian National Bank said regarding political comments that the process of joining the Eurozone should be stopped.

EBRD forecasts 2.5 percent growth for Turkish economy

The European Bank for Reconstruction and Development (EBRD) has predicted in its latest Regional Economic Prospects report that Türkiye's earthquake-hit economy will grow 2.5 percent in 2023.

This was lower than the 3 percent growth GDP expansion forecast in the previous report.

The Turkish growth is expected to bounce to 3 percent in 2024, according to the developments bank.